Manned Guarding Services Market Size, Share, Growth, And Industry Analysis By Type (Service and Equipment) By Application (Commercial Buildings, Industrial Buildings, and Residential Buildings) and Regional Forecast to 2027

Updated On: 08 April 2024

Report Overview

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The Global manned guarding services market size was USD 56200 million in 2020. As per our research, the market is expected to reach USD 111120 million by 2027, exhibiting a CAGR of 10.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the manned guarding services market growth and demand returning to pre-pandemic levels once the pandemic is over.

They are crucial to maintaining the safety and security of our neighborhoods. The need has continuously risen due to rising crime rates and security concerns. These services give individuals, companies, and institutions a sense of security.

To meet specific security requirements, numerous manned guarding service kinds are provided. Static guarding is among the most popular types when security guards are posted in particular areas to monitor and manage access. Retail establishments, office complexes, and construction sites frequently use this service. Another is mobile patrol, in which security officers roam around a predetermined area to guarantee the protection and safety of the property. Large events, industrial parks, and residential areas frequently employ this service. Another crucial component of manned guarding services is event security. Event security ensures that spectators are secure and that the event runs without a hitch, whether a concert, sporting event, or corporate meeting. Another guarding service that offers personal security to high-profile people or those in danger is close protection.

COVID-19 Impact: With Stringent Protocols And Safety Measures in Place to Accelerate the Market Growth

The COVID-19 outbreak has significantly impacted this sector, and it's fascinating to see the occurring changes. Security staff needs have increased as companies and organizations adjust to the new normal. They are now crucial to safeguarding the safety and well-being of employees and clients because of the strict procedures and safety precautions. This market has exciting prospects to develop and flourish due to the rising demand. Businesses in this industry are currently concentrating on offering specialized training and knowledge to tackle the specific challenges presented by the epidemic.

Latest Trends

"The Integration Of Technology With Traditional Security Measures to Boost the Market Expansion"

The newest trend is combining modern technology with established security procedures. To increase the effectiveness and efficiency of manned guards, cutting-edge surveillance technology, facial recognition software, and GPS tracking are being deployed. More and more, it's about intelligent security solutions rather than just being physically there. This confluence of technological advancements and human abilities is revolutionizing the sector.

Segmentation

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• By Type Analysis

Based on the type market can be segmented into equipment and service. Among these, equipment is projected to experience rapid growth through 2028.

• By Application Analysis

The market can be divided based on application into commercial buildings, industrial buildings, and residential buildings. Commercial buildings are expected to hold the most significant manned guarding services market share in the upcoming years.

Driving Factors

"Increasing Need for Safety And Security in Various Sectors to Propel the Market Expansion"

The market for manned security services is increasing, offering intriguing possibilities and room for expansion. The growing demand for safety and security across various industries is one of the main forces fueling this expansion. Businesses and individuals are looking for trustworthy and qualified manned guarding services to secure their assets and guarantee the security of their facilities due to increased crime rates and security risks. Due to the increase in demand for these services, businesses in this sector now have a bright future.

"Increasing Focus on Risk Management and Compliance to Fuels the Market Growth"

This market is expanding due to a growing emphasis on risk management and compliance. Companies are becoming more conscious of the hazards they may encounter and the necessity of taking appropriate precautions to reduce them. They offer a proactive approach to risk management by employing skilled and knowledgeable security guards who can spot possible dangers and deal with them before they become more serious. This enables companies to protect their assets and guarantees adherence to rules and laws.

Restraining Factor

"High Cost and the Increasing Competition to Hinder the Market Growth"

One of the major contributing factors is the high expense of recruiting and educating security professionals. To ensure the guards are prepared, businesses must spend money on hiring and intensive training. Smaller organizations or those on a restricted budget may find this a constraint. The growing competition in the market for manned guarding services is another restraint. It gets more difficult to distinguish between and win contracts when more businesses enter the market. Customers have many options, which puts pressure on service providers to deliver competitive pricing and stand out by offering value-added services.

Regional Insights

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"North America to Dominate Market Due To The Increasing Need For Safety And Security to Increase the Market Demand"

North America to hold the major part of the market in the years to follow. Factors driving the market growth in this region include the increasing need for safety and security in various sectors. The increasing focus on risk management and compliance fuel market expansion.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• G4S (U.K.)
• Securitas (U.S.)
• Allied Universal (U.S.)
• US Security Associates (U.S.)
• SIS (U.K.)
• TOPSGRUP (India)
• Beijing Baoan (China)
• OCS Group (U.K.)
• ICTS Europe (U.K.)
• Transguard (U.A.E.)
• Andrews International
• Control Risks (U.K.)
• Covenant (U.S.)
• China Security & Protection Group (U.S.)
• Axis Security (U.S.)
• DWSS (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.